Dear Editor,

IN REFERENCE to your article entitled "AMBD cuts interest rate for credit cards" published on January 28, you did not mention what is the reasoning or logic behind the deduction in interest rates.

Isn't the government trying to curb spending? Wouldn't this increase spending because people feel like they can owe the bank more money as it's become 0.5 per cent cheaper a month, which loosely translate to about 6 per cent per annum?

That's quite a huge amount, I can't even get banks to give me 6 per cent per annum in investments.

So wouldn't this indirectly encourage spending?

What is the reasoning behind the deduction of interest rates?

Why doesn't Autoriti Monetari Brunei Darussalam (AMBD) consider stricter regulations instead of making them more relaxed?

I also wonder whether the credit bureau will consider rewarding responsible borrowers like myself?

Confused and responsible card user, BSB